Preparing for Turmoil, Central Banks Turn to Gold
By: Nathan McDonald
GoldSeek.com
Friday, 2 November 2018
The trend is your friend and in this case, the trend comes tinged with a yellowish hue.
As I have been highlighting recently, Central Banks around the world are finally waking up to the harsh reality that is our current geopolitical and financial situation.
On the surface, things appear to be healthy, things appear to be running along smoothly, but as soon as you scrap even an inch below the surface, and look at the skyrocketing debt levels and increased fragility of many Western nations, you quickly begin to realize just how unstable things have become.
Certain countries have been ahead of the curve, accumulating gold hand over fist, taking every opportunity that arises to add to their holdings, whenever any large amount of gold hits the markets.
As I wrote about last week, both Poland, who has been incrementally adding gold to to their reserves at a steady rate, and Hungary, who increased their gold reserves by 10 fold in one purchase, are two countries to join the growing ranks of countries who have caught the “gold fever”.
Other wealthy individuals are silently, but steadily allocating some of their phenomenal profits that they have received from this record breaking stock market, into precious metals. Perhaps sensing that the top is near and that the inevitable correction is forth coming.
Whether or not 2018 is the year that we see a collapse is yet unknown, but likely we are going to see a much clearer picture painted as the 2018 midterms wrap up and come to a close.
Many analyst are predicting that we may see a massive correction if Trumps GOP suffers significant losses, as consumer confidence may be rocked and businesses may begin to second guess many of their recent decisions.
Whether you like him or not, President Trump has been incredibly pro “US” businesses, enacting massive tax cuts, which has led to a surging bull market, of which until recently, showed no signs of slowing down.
The Rest…HERE
